CA Tahoe Lakefront Marketplace is Hot

Here is the article from the Reno Gazette Journal about the current state of the CA Tahoe lakefront marketplace. Pretty amazing activity. I’d be surprised if we surpass 2012 but anything’s possible…

Lake Tahoe’s waterfront market is cooking.

Sales of properties along the lake’s shores so far in 2014 have easily surpassed the past nine years, including 2012’s record-breaking year, according to one official.

“This year has seen roughly $91,791,255 in closed lakefront volume and there is another $24,645,000 currently in escrow,” Alex West of Chase International wrote in an email news release Monday.

By comparison, he said, 2012 at this point has 32 percent less volume.

“Lakefronts are Tahoe’s highest-end properties and many believe they are a lead indicator for the regional resort market. On any given year, 20 to 30 lakefront properties will change hands,” West wrote. “The two previous years each had a point where there were nine lakefront properties in escrow simultaneously. This year has been different with a steadier flow of sales.”

He added, “While 2014’s numbers are very high thus far, there were significant tax changes taking effect in 2013 which resulted in an abnormally high lakefront volume in December 2012. Prices have risen substantially since 2012, some price bands seeing a 20 percent increase. It remains to be seen if 2014 can eclipse that incredible year.”

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